Between March 2011 and February 2012, Singapore attracted $2.79bn of foreign direct investment (FDI) and Hong Kong $2.4bn of FDI into their financial sectors, and their combined totals accounted for more than half of the total FDI into the Asian financial sector. Hong Kong recorded increases in both project numbers and capital expenditure, compared with the same period in 2010/11, and aggregate project numbers and capital expenditure for Asian international financial centres (IFCs) also witnessed an increase. But, despite attracting 17 more projects in the 2011/12 period, Singapore recorded $342m less capital than in the 2010/11 period.
China’s IFCs showed significant changes in FDI inflows between the two periods. There was a change in the third and fourth ranked IFCs in the most recent ranking, with Beijing displacing Shanghai as the third largest destination for financial FDI in Asia. Beijing recorded eight more projects and $470m more capital in the 2011/12 period compared with the 2010/11 period. Shenzhen also recorded a significant increase in the ranking, rising to seventh from 11th position, despite reporting no change in the number of projects or levels of capital invested in the two periods.
For more insight and to see the full rankings read the full story: Singapore and Hong Kong fight off Asian FDI rivals
